| Only 4 states support FDI in retail: Scindia |
NEW DELHI Only four states and Union Territories (UT) have so far indicated their support for allowing FDI in multi-brand retail, a development which will further delay entry of global chains like Walmart and Carrefour in India.
“Till date, written communications, indicating support for foreign direct investment (FDI) in multi-brand retail trade, have been received from the governments of Delhi, Manipur and from Daman and Diu and Dadra Nagar Haveli,” Minister of State for Commerce and Industry Jyotiraditya Scindia informed the Rajya Sabha, the Upper House of Parliament.
The Department of Industrial Policy and Promotion had written to governments of all states and Union Territories on June 19 to elicit their views on the contentious issue.
The federal cabinet had decided on November 24, 2011 to allow 51 per cent FDI in multi-brand retail, but the same could not be implemented in the face of strong opposition from ruling coalition United Progressive Alliance (UPA)-ally Trinamool Congress, the DMK and several state governments.
Scindia said there was no proposal to allow 100 per cent FDI in multi-brand retail.
In the backdrop of the government facing flak from a section of industry and some global investors for policy inaction, the government has renewed its efforts to forge a consensus on opening the retail sector estimated to be over $600 billion.
Press Trust of India
|
 |
|
|
| NEWS UPDATES |
|
|
|
|
|
|
